The Saint Paul Condo Blog

May 21st, 2008 10:08 AM


Farmers Market Flats condos in St Paul

It's with a heavy heart that I have to tell you that the Farmers Market Flats is no longer for sale.  The development has a storied history in the city, and the recent go at selling them as condos has come to an end.  With the current delay and the lawsuits, the developer started the process of returning everyone's earnest money.

The good news is the project is not completely dead, just dead as "for sale" condos.  The project will now go forward as market rate rentals.  Why do I call this good news?  The indoor farmers market will still be part of the project, and there is always the chance when the market rebounds, that it could be converted to condos.

The big questions mark remaining is how the lawsuits will play out.  The old builder sued the city for breach of contract and for bad mouthing them, the city has countersued for fraud.  It's gonna get ugly before it gets better!

 


Posted by Bud Kleppe on May 21st, 2008 10:08 AMPost a Comment (0)

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